Question 1

According to the textbook, a business plan is best described as a(n):

Accepted Answer

A

Question 2

Zachery Mays is in the very early stages of putting together a business startup, and is thinking about writing a business plan to request funds to conduct a feasibility analysis and write a more complete business plan. What type of business plan should Zachery write at this point?

Accepted Answer

C

Question 3

There are two primary audiences for a business plan: investors and other external stakeholders and:

Accepted Answer

B

Question 4

There are three types of business plans:

Accepted Answer

The answer of There are three types of business plans:
...

Question 5

A business plan is important for two reasons: it forces the founding team to systematically think through every aspect of their new venture and:

Accepted Answer

The answer of A business plan is important for two...

Question 6

Which of the following is not a recommended guideline for writing a business plan?

Accepted Answer

The answer of Which of the following is not a...

Question 7

Which of the following is not an individual, group or institution that normally reads a company's business plan?

Accepted Answer

The answer of Which of the following is not an...

Question 8

Which of the following is not one of the "red flags" listed in the textbook that raises questions about one of more aspects of a company's business plan?

Accepted Answer

The answer of Which of the following is not one...

Question 9

Lincoln & Lexi, the company profiled in the opening feature for Chapter 4, was founded to:

Accepted Answer

The answer of Lincoln & Lexi, the company profiled in...

Question 10

The document that does the best job of introducing potential investors and other stakeholders with the business opportunity the firm is pursuing and how it plans to pursue it is the:

Accepted Answer

The answer of The document that does the best job...

Question 11

Martin Nelson is thinking about launching a small business consulting company. To get advice on how to proceed, he stopped by his local Small Business Administration (SBA) office. The SBA advisor told Martin that one of the first things he needs to do is to sit down and write a 25 to 35 page narrative that describes what his new business plans to accomplish and how it plans to accomplish it. The SBA advisor is telling Martin to write a(n):

Accepted Answer

The answer of Martin Nelson is thinking about launching a...

Question 12

Which of the following statement is incorrect about business plans?

Accepted Answer

The answer of Which of the following statement is incorrect...

Question 13

A(n) ________, which is typically 25 to 35 pages long, works best for new ventures who are at the point where they need funding or financing.

Accepted Answer

The answer of A(n) ________, which is typically 25 to...

Question 14

Which of the following is the main purpose for writing a business plan?

Accepted Answer

The answer of Which of the following is the main...

Question 15

For most business plans ________ pages are sufficient.

Accepted Answer

The answer of For most business plans ________ pages are...

Question 16

According to the textbook, only ________ of the 600 entrepreneurs that participated in a recent Wells Fargo/Gallup Small Business Study indicated that they had started their venture with a business plan.

Accepted Answer

The answer of According to the textbook, only ________ of...

Question 17

Which of the following statements is incorrect regarding business plans?

Accepted Answer

The answer of Which of the following statements is incorrect...

Question 18

Which of the following is one of the "red flags" listed in the textbook that raises questions about one or more aspects of a company's business plan?

Accepted Answer

The answer of Which of the following is one of...

Question 19

A(n) ________, which is intended to be a blueprint for a company's operations, is 40-100 pages long and is meant primarily for an internal audience.

Accepted Answer

The answer of A(n) ________, which is intended to be...

Question 20

There are two primary audiences for a business plan:

Accepted Answer

The answer of There are two primary audiences for a...

Quiz 4: Writing a Business Plan

According to the textbook, a business plan is best described as a(n) :